What Is Trust Wallet and How Does It Work

Are you looking for a secure and user-friendly crypto wallet to manage your crypto assets efficiently? 

Discover Trust Wallet, a non-custodial cryptocurrency wallet empowering you to take control of all your digital assets, from crypto coins to non-fungible tokens (NFTs). Trust Wallet offers multiple features, including support for Web3 capabilities, decentralized exchange (DEX) integration, staking, swaps, and more.

Our comprehensive review will delve deep into the features, security measures, and user experience Trust Wallet offers, helping you determine if it’s the right fit for your needs.

What Is Trust Wallet?

Trust Wallet is a decentralized, non-custodial, multi-crypto wallet app, providing users with complete control over their digital assets. It’s Binance’s official cryptocurrency wallet available as a free download on Android and iOS devices via the Play Store and App Store and a browser extension for Chrome, Brave, Opera, and Edge browsers.

Trust Wallet supports over 70 blockchains and 9+ million crypto assets, including NFTs.

Unlike custodial wallets that require you to trust a third party with the custody of your assets, Trust Wallet puts you in complete control. It operates as a non-custodial wallet, enabling you to retain ownership and control of your private keys at all times. This empowers you to securely store, send, receive, stake, trade, store, and purchase crypto without relying on intermediaries.

As a decentralized wallet, it leverages blockchain technology to ensure users have direct control over their funds, eliminating the risks associated with centralized platforms. Trust Wallet provides a decentralized platform for asset management without relying on a central authority or server to operate.

It boasts a user-friendly interface enabling users to directly use decentralized applications (DApps) on the Trust Wallet mobile app, further expanding their Web 3 experience.

By integrating with leading DApp platforms, Trust Wallet enables you to seamlessly interact with myriad decentralized services, such as decentralized exchanges (DEXs) and decentralized finance (DeFi) protocols. This opens up a world of possibilities for you to engage in decentralized trading, lending, staking, and more, all from the convenience of the Trust Wallet app.

How Does Trust Wallet Work?

Trust Wallet creates a bridge between blockchains and their respective nodes, facilitating the secure storage of cryptocurrencies within their respective public addresses. As a decentralized and non-custodial wallet, it doesn’t possess or exercise control over users’ cryptocurrency holdings; instead, it grants users direct access to their assets.

Trust Wallet DApp Browser

Trust Wallet provides a built-in Web3 DApp browser, enabling users to interact seamlessly with Ethereum-based and Binance Smart Chain-based DApps. Users can directly access DEXs, DeFi applications, and blockchain-based games using the Trust Wallet app without signing up for each DApp.

Trust Wallet vets all integrated DApps to ensure a certain level of trustworthiness and quality for users. Supported DApps include Uniswap, PancakeSwap, and OpenSea.

Plus, Trust Wallet provides developers with a user-friendly API specifically designed to facilitate the creation of multi-chain DApps.

Trust Wallet Built-in DEX

Trust Wallet offers users the convenience of a built-in decentralized exchange (DEX), enabling them to buy, sell, and swap cryptocurrencies with a few clicks directly on the Trust Wallet app. The DEX integrates with various payment systems and platforms, such as Binance DEX, THORChain, 1Inch Network, and Kyber Network, to facilitate seamless trading and exchange options.

The built-in DEX provides access to multiple DEXs and facilitates interchain and cross-chain swaps, expanding the range of trading options for users.

Additionally, the DEX’s integration with the Venus Protocol enables users to receive liquidity mining rewards and securely store Binance Smart Chain assets, including pegged ETH and XVS, directly in their wallet.

Trust Wallet Token (TWT)

Trust Wallet Token (TWT) is the native cryptocurrency of Trust Wallet available on different blockchain networks. TWT holders enjoy certain advantages within the Trust Wallet app, such as conversion and transaction fee discounts. TWT also functions as a governance token, enabling holders to actively participate in the governance of Trust Wallet and vote on decisions like new features, tokens, and support for the network.

How to Set Up Trust Wallet?

Download the Trust Wallet app from App Store or Play Store on your mobile devices or install it as a browser extension on Chrome, Brave, Opera, and Edge browsers at: https://trustwallet.com/browser-extension

Follow the easy steps below to create a Trust Wallet account:

  • Select “Create a new wallet” and press “Continue” to accept the Terms of Service and Privacy Policy.
  • Create a six-digit password as your secret security code to access the wallet.
  • A new screen will appear, prompting you to write down your secret recovery phrase, consisting of 12 words. This phrase is the only way to recover your wallet once you lose access to it, so keep it in a safe, private place.
  • Write the phrase to verify that you backed up your recovery phrases.
  • Congratulations! Your wallet was successfully created.

Is Trust Wallet Safe?

Trust Wallet is a highly secure hot wallet, incorporating military-grade encryption and bank-level security measures. The wallet is secured with Touch ID and Face ID implementation, although it lacks a two-step verification process.

As a decentralized wallet prioritizing user privacy and security, Trust Wallet doesn’t require KYC verification.

Trust Wallet is a non-custodial wallet that doesn’t store any user information, giving users complete control over their private keys. As the sole custodian of your private keys, you’re responsible for keeping them safe. Plus, since cryptocurrencies operate on a decentralized network, lost funds can never be recovered. However, Trust Wallet provides a solution for recovery or backup of your funds in the event of device loss or mishap. It offers a seed or recovery phrase, a series of random words generated by your cryptocurrency wallet, for backup purposes. This backup mechanism adds an extra layer of protection and peace of mind for a Trust Wallet owner. So it’s crucial never to share your seed phrase with anyone or create a digital copy of it to avoid a permanent loss of funds. 

Users have the option to store their private keys locally on their devices conveniently, and Trust Wallet won’t reveal the key when signing transactions automatically.

While Trust Wallet provides a secure system, it’s essential to acknowledge that it’s a hot wallet, i.e., it can be accessed via an internet connection.

Hot wallets are susceptible to phishing scams. Phishers can gain unauthorized access to users’ wallets by exploiting phishing websites to steal seed phrases. To mitigate risks, users should beware of fraudulent websites designed to mimic official wallet platforms and ensure they’re on the official Trust Wallet website before signing in.

Moreover, since Trust Wallet is a mobile wallet, if you were to lose your mobile device and someone gains unauthorized access to it, your funds could potentially be lost forever.

To avoid seeing your crypto wallet balance suddenly drop to zero, you may want to consider storing your funds in hardware or cold wallet. Hardware wallets provide offline storage, significantly reducing the risk of unauthorized access or theft.

While Trust Wallet offers significant advantages such as multi-coin support and flexible transactions, hardware or cold wallets remain the preferred crypto wallets for individuals seeking the utmost security for their long-term investment objectives.

Trust Wallet’s Features

Trust Wallet offers multiple features, along with the built-in Web3 DApp browser and the built-in decentralized exchange (DEX), enabling users to buy, sell, and swap cryptocurrencies directly on the Trust Wallet app.

Let’s explore the key features of Trust Wallet in detail below.

  • Multi-coin Support: Trust Wallet supports the main blockchains within the Ethereum ecosystem and also functions as a Bitcoin Wallet. It has recently introduced support for Binance Smart Chain, expanding the range of compatible cryptocurrencies.
    Trust Wallet also allows you to store stablecoins conveniently.
    The Trust Wallet team continuously adds support for more cryptocurrencies on a monthly basis. It also encourages you to reach out to the team to add specific coins or tokens to Trust Wallet.
  • NFT Storage: Trust Wallet enables users to store and access all their NFT collectibles on Ethereum and BSC. Crypto collectibles are secured on the blockchain and associated with a public address.
  • Staking and Rewards: Trust Wallet offers built-in staking with selected cryptocurrencies, enabling users to earn interest on the crypto they store in their wallet.
  • Flexible Purchases and Withdrawals: Unlike most crypto wallets, Trust Wallet allows users to purchase cryptocurrency with fiat currencies. You can purchase over 40 cryptocurrencies on Trust Wallet using a credit or debit card. Moreover, Trust Wallet has partnered with Ramp and MoonPay, enabling easy crypto-to-fiat withdrawals. It currently allows users to easily convert their cryptocurrency into fiat currencies directly within the Trust Wallet app.
  • Cost & Fees: Trust Wallet is free to download and use and doesn’t charge fees for swaps or transactions in-app. The only fees you’re charged are blockchain network fees on cryptocurrency transactions. Users must pay the corresponding network fee, which may vary depending on network congestion. However, users can manually set their preferred gas and network fees, depending on the transaction’s urgency.

Trust Wallet Pros and Cons

Here’s a summary of Trust Wallet Pros and Cons at a glance:


  • Multi-coin support
  • NFT support
  • Easy set-up & Intuitive user interface
  • Built-in staking
  • DApp browser
  • Built-in DEX
  • Easy Purchases


  • Limited customer support: The team is only available via e-mail and doesn’t have a direct chat
  • No cold storage: Trust Wallet doesn’t support hardware wallets for offline storage.


Trust Wallet aims to make cryptocurrency more accessible for everyone by enabling users to easily buy, send, receive, stake, trade, and store cryptocurrencies. 

It offers a user-friendly interface for managing cryptocurrencies, interacting with decentralized applications (DApps), and participating in DeFi protocols from the convenience of your smartphone.

Trust Wallet is a good fit for investors looking for a non-custodial, multi-coin wallet offering an all-in-one solution for all their crypto needs.

However, investors should take appropriate precautions and follow best practices to safeguard their assets when using any cryptocurrency wallet, including Trust Wallet.

How to Buy SUI Network Token

SUI token is a digital asset that has gained significant attention in the cryptocurrency market. It is an important token for investors and traders who want to diversify their portfolios and potentially earn high returns.

SUI token has various use cases, including payment processing, decentralized lending, and borrowing, among others. As more investors and traders recognize the potential of this token, its demand has increased significantly, driving up its market value. Therefore, it is essential for those interested in cryptocurrency investments to learn how to buy SUI and take advantage of its growth potential.

What Is SUI Token?

SUI coins is a digital asset that is built on its own Sui blockchain.

SUI token has several use cases, including payment processing, decentralized lending and borrowing, and reward systems for users of certain decentralized applications (dApps).

Where to Buy SUI Token?

SUI tokensale was held on several reputable exchanges, including:

  1. KuCoin: KuCoin is a popular cryptocurrency exchange that lists SUI token. It has a high trading volume, which means that there is more liquidity, and traders can buy and sell SUI token easily. KuCoin charges a fee of 0.1% per trade.
  2. OKX: SUI will also be offered on OKX’s Jumpstart platform. OKX had previously announced that users could participate in a token allocation lottery through which holders of OKB, the exchange’s native token, could purchase lottery tickets. Those who win the lottery will then be given the opportunity to purchase SUI.
  3. Binance: Last week, the largest cryptocurrency exchange in the world announced that users would be able to farm SUI initially through Binance Launchpool, which is a native platform enabling users to farm new assets. Binance has listed SUI and allowed trading with SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs.

When choosing an exchange to purchase SUI tokens, it is essential to consider factors such as trading fees, trading volume, and security. Comparing fees and trading volumes on different exchanges can help you make an informed decision about where to buy SUI tokens.


How to Buy SUI Token?

To buy SUI token on a selected exchange, follow these steps:

1. Create an Account on the Exchange of Your Choice

After you’ve chosen a cryptocurrency exchange that fulfills all your criteria, the following step is to register with the exchange using a valid email or mobile number. A link will be sent to your address, and you must click it to verify your account. Once the account is activated, you must create an elaborate password, and you’re good to go. Some exchanges have strict KYC and AML requirements, and in order to get verified, you must provide personal information such as:

  • Full name
  • Residential address
  • Date of Birth
  • ID Document

Binance create account

In some cases, you might also need to upload a selfie or undergo video verification to finalize the verification process.

Once your identity verification is complete, it’s recommended to activate two-factor authentication (2FA) for an extra layer of security.

2. Deposit Funds

The next step is to deposit funds into your account. Many crypto exchanges support fiat currencies like USD, EUR, etc. Simply select your preferred deposit method, such as a bank transfer, wire transfer, credit or debit cards, e-wallets, PayPal, etc., and the currency you wish to deposit. Tap on “Deposit Funds,” enter the amount you want to deposit, and click “Deposit.”Some deposit methods are extremely fast, while others, depending on the amount, require confirmation from authorities. Remember to evaluate the fees of different deposit methods since some have larger fees than others.

  • Stablecoins

You can deposit USDT/USDT to any centralized exchange, transactions on blockchain are almost instant.

  • Credit or Debit Card

Linking your debit card to your crypto account is advantageous as it lets you make instant or recurring purchases, but be aware that it attracts an additional fee.

  • Bank Account

It’s usually free to make a bank transfer from your local bank accounts, but you should still double-check with your exchange.

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3. Buy SUI

Navigate to the SUI token trading page and place a buy order for the amount of SUI token you wish to purchase. Once your order is filled, your SUI token will be credited to your exchange wallet.

It is essential to note that after purchasing SUI token, it is recommended to transfer it to a secure hardware wallet or a software wallet with private keys to ensure the safety of your investment.

Disclaimer: All information provided in or through the CoinStats Website is for informational and educational purposes only. It does not constitute a recommendation to enter into a particular transaction or investment strategy and should not be relied upon in making an investment decision. Any investment decision made by you is entirely at your own risk. In no event shall CoinStats be liable for any incurred losses. See our Disclaimer and Editorial Guidelines to learn more.

What Is Bitcoin: How to Mine, Buy, and Use It

what are bitcoins

Bitcoin is a decentralized digital currency that is not tied to any government or financial institution. It was created in 2009 by an unknown person using the name Satoshi Nakamoto. Bitcoin is a peer-to-peer electronic cash system that allows for direct transactions between individuals without the need for a middleman, such as a bank or other financial institution.

Bitcoin’s Blockchain Technology

The key technology behind Bitcoin is the blockchain, which is a distributed public ledger that contains all the transactions made on the Bitcoin network. The blockchain is maintained by a network of computers that validate transactions and add them to the blockchain. Each block in the blockchain contains a list of recent transactions and a cryptographic hash of the previous block in the chain, forming a “chain” of blocks that cannot be altered once they have been added to the chain.

How Does Bitcoin Work?

Bitcoin works by allowing individuals to send and receive bitcoins through the Bitcoin network. Each user has a Bitcoin wallet, which is a software program that allows them to send and receive bitcoins. To send bitcoins, a user must know the recipient’s Bitcoin address, which is a unique identifier that is used to identify a specific user’s Bitcoin wallet.

Bitcoin transactions are validated by the network of computers that maintain the blockchain. When a bitcoin transaction call is made, it is broadcast to the network, and the computers on the network work to validate the transaction and add it to the blockchain. This process is called “mining.”

What Is Bitcoin Mining?

Bitcoin mining is the process by which new bitcoins are created and transactions are verified on the Bitcoin network. Miners use specialized software and powerful hardware to solve complex mathematical equations that validate transactions and add them to the blockchain using bitcoin software. As a reward for their efforts, miners receive newly created bitcoins and transaction fees.

How Does Bitcoin Mining Work?

Bitcoin mining is the process of validating cryptocurrency transactions, and adding them to the blockchain. Bitcoin miners use powerful computers to solve complex mathematical equations that validate transactions and add them to the blockchain. As a reward for their efforts, miners receive newly created bitcoins and transaction fees.

Mining Bitcoin requires a significant amount of computing power, which is why most mining is done by large mining pools that combine the computing power of many different miners.

How Long Does It Take to Mine One Bitcoin?

The time it takes to mine one Bitcoin varies depending on a variety of factors, including the computing power of the network, the mining difficulty, and the equipment used. However, on average, it currently takes around 10 minutes to mine one Bitcoin block, which contains a certain number of bitcoins as a reward. This reward is called the block reward and is currently 6.25 bitcoins per block. As mentioned earlier, the reward per bitcoin miner is halved approximately every four years, which means that the number of bitcoins generated per block will continue to decrease until it reaches zero, which is expected to happen around the year 2140.

How Do You Buy Bitcoin?

There are several ways to buy bitcoin. One way to purchase bitcoin is to use a cryptocurrency exchange, such as Coinbase, Binance, or Kraken, to buy bitcoin with a bank account or credit card. Another way is to buy bitcoin through a bitcoin ATM, which is a physical machine that allows individuals to buy bitcoin with cash.

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Risks of Investing in Bitcoin

Investing in Bitcoin comes with significant risks. Bitcoin is a highly volatile asset, and its price can fluctuate wildly in a short period of time. In addition, Bitcoin is not backed by any government or financial institution, so its value is not guaranteed.

You Decide: Is Bitcoin a Good Investment?

Despite the risks, many investors believe that Bitcoin is a good investment. Bitcoin has been compared to gold as a store of value and has been called a “digital gold rush.” Some investors believe that Bitcoin’s scarcity and limited supply make it an attractive investment opportunity.

How Does Bitcoin Make Money?

Bitcoin can be used to make purchases online and in-person. Some businesses, such as Overstock.com, Expedia, and Microsoft, accept bitcoin as a form of payment. In addition, individuals can buy and sell bitcoin on cryptocurrency exchanges, such as Coinbase, Binance, and Kraken.

How Many Bitcoins Are Left?

There are a limited number of bitcoins that can be created, and the total supply is capped at 21 million bitcoins. As of April 2023, there are around 18.8 million bitcoins in circulation, with approximately 2.2 million yet to be mined. The process of mining new bitcoins becomes progressively more difficult over time, which means that the remaining bitcoins will become increasingly more difficult to mine. This scarcity for bitcoin holders and the increasing difficulty of mining new bitcoins are some of the factors that contribute to the value of Bitcoin.

Bitcoin’s Price

Bitcoin’s price is determined by the market forces of supply and demand, similar to traditional currencies and other assets. The price of Bitcoin can be volatile and fluctuate rapidly, which means that investing in Bitcoin can carry significant risks. The price of Bitcoin is influenced by a variety of factors, including media coverage of bitcoin prices, government regulations, the level of adoption and use, and overall market sentiment.

As of April 2023, the price of Bitcoin hovers around $60,000 USD, but it is important to note that this is subject to change. Investors should always conduct thorough research and analysis before investing in any asset, including Bitcoin.

Investing in Bitcoin

Investing in Bitcoin can be an attractive option for some people, but it is important to understand the risks and potential rewards before making any investment decisions. Bitcoin’s price can be volatile and can fluctuate rapidly, which means that investors could potentially lose a significant amount of money. However, some investors see Bitcoin as a hedge against inflation or a store of value, similar to gold.

There are several ways to invest in Bitcoin, including buying Bitcoin directly through a cryptocurrency exchange or a peer-to-peer marketplace, investing in Bitcoin-related stocks, or purchasing Bitcoin-related financial instruments, such as Bitcoin futures contracts or exchange-traded funds (ETFs).

CoinStats: Your One-Stop Crypto Portfolio Manager

If you are interested in investing in Bitcoin or other cryptocurrencies, it is important to have a comprehensive view of your portfolio’s performance. CoinStats is a powerful crypto portfolio manager that allows you to connect your portfolios from over 500 exchanges and wallets, including all Bitcoin exchanges and wallets. With CoinStats, you can track your portfolio’s performance, view real-time market data, and receive alerts when market conditions change. Additionally, CoinStats allows you to buy Bitcoin with a credit card, making it easy and convenient to invest in this popular cryptocurrency.

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Bitcoin is a decentralized digital currency that operates on a peer-to-peer electronic cash system. It allows for secure and anonymous transactions without the need for a central authority or intermediary. Bitcoin mining is the process of validating transactions on the Bitcoin blockchain and adding them to the public ledger. Bitcoin’s price is determined by the market forces of supply and demand and can be volatile, making it a potentially risky investment. However, some investors see it as a hedge against inflation or a store of value.

With CoinStats, you can easily track your Bitcoin and other cryptocurrency investments, as well as buy Bitcoin with a credit card. As with any investment, it is important to conduct thorough research and analysis before investing in Bitcoin or any other asset.

Disclaimer: All information provided in or through the CoinStats Website is for informational and educational purposes only. It does not constitute a recommendation to enter into a particular transaction or investment strategy and should not be relied upon in making an investment decision. Any investment decision made by you is entirely at your own risk. In no event shall CoinStats be liable for any incurred losses. See our Disclaimer and Editorial Guidelines to learn more.

LayerZero Airdrop: Maximizing Your Chances for Potential Rewards

LayerZero airdrop

Airdrop farming has gained tremendous popularity among crypto enthusiasts, fueled by the potential to make substantial profits. Successful airdrops, such as Optimism, Arbitrum, and the upcoming Starknet, zkSync Era, and SUI, have captured the attention of both newcomers and seasoned investors in the crypto space, eager to capitalize on these opportunities. In this article, we will discuss LayerZero, its technology, and the potential ZRO token airdrop.

LayerZero Overview

LayerZero is an innovative project focusing on omnichain interoperability, aiming to connect multiple blockchains and facilitate seamless transactions between them. The potential $ZRO token will play a significant role in the LayerZero ecosystem, providing various incentives and rewards for users and developers.

LayerZero’s Technology

At the core of LayerZero’s technology lies an oracle and a relayer responsible for transferring messages between different blockchains. This approach allows for secure and efficient communication between various chains without the need for a singular “middle” network. The transaction process on the LayerZero network is designed to be seamless and secure, ensuring a smooth user experience.

LayerZero network transaction

LayerZero’s Backers and Funding

LayerZero has attracted significant investment, recently raising $120 million at a $3 billion valuation. Its list of prominent backers includes well-known names such as Circle, Sequoia, Andreessen Horowitz, Samsung Next, and Christie’s.

LayerZero Labs

How to Get the LayerZero Airdrop?

Disclaimer: No guarantee of an airdrop

While there is no guarantee of receiving the LayerZero airdrop, users can follow several steps to increase their chances. These steps include:

Use Stargate and Its features

Start by using Stargate Finance, a primary dApp on LayerZero. Bridge assets using the Stargate Bridge.

Stargate Bridge

Additionally, vote on Stargate Finance by acquiring STG on an exchange, staking your tokens for voting power, and regularly voting on proposals.

Use Other Bridges

LayerZero has four official bridges that users should interact with. These include:

  1. Aptos Bridge for bridging tokens from EVM-compatible networks to the Aptos network
  2. Bitcoin Bridge for transferring BTC.B (bridged Bitcoin) across EVM-compatible chains and Aptos
  3. USDC Bridge for transferring assets between Ethereum’s Goerli Testnet and Avalanche’s Fuji Testnet
  4. Testnet for transferring assets to and from Goerli

Interact With Top dApps on LayerZero

Engage with various dApps within the LayerZero ecosystem, such as providing liquidity on Radiant Capital, making cross-chain swaps on SushiSwap, or depositing into Rage Trade vaults. This interaction will increase your chances of receiving the airdrop.

Tips and Strategies for Maximizing Airdrop Chances

To maximize the chances of receiving the LayerZero airdrop, users should focus on genuine interaction with LayerZero protocols, maintain consistency in their activities, and exercise patience throughout the process. Regularly interacting with LayerZero protocols, swapping, bridging, and providing liquidity will increase your chances of being eligible for the airdrop. Remember, the key to success is consistency and patience.


In conclusion, staying informed and adapting to changes in the LayerZero ecosystem is crucial for users looking to maximize their chances of receiving the potential ZRO airdrop. With the right approach, crypto enthusiasts can capitalize on this opportunity and potentially enjoy significant rewards from their involvement in the LayerZero project. Additionally, utilizing CoinStats will allow users to effectively manage their ZRO coins and stay up-to-date with the latest developments in the LayerZero ecosystem.

Disclaimer: All information provided in or through the CoinStats Website is for informational and educational purposes only. It does not constitute a recommendation to enter into a particular transaction or investment strategy and should not be relied upon in making an investment decision. Any investment decision made by you is entirely at your own risk. In no event shall CoinStats be liable for any incurred losses. See our Disclaimer and Editorial Guidelines to learn more.

How to Get StarkNet Airdrop and Maximize Your Crypto Earnings

StarkNet Airdrop

Airdrop farming has become increasingly popular among crypto enthusiasts as a way to earn sizeable amounts of money with minimal effort. Some notable examples of successful airdrops include Optimism and Arbitrum, while upcoming airdrops like zkSync Era and SUI are already generating excitement. Now, it’s time for StarkNet’s $STRK airdrop, and with just a few simple steps, you could potentially change your life in just 10 minutes. In this article, we will guide you through the process of participating in the StarkNet airdrop and maximizing your earnings in the exciting world of crypto.

What Is StarkNet?

StarkNet is a Validity Rollup Layer 2 solution that provides high throughput, low gas costs, and retains Ethereum Layer 1 levels of security. It is designed to scale Ethereum by replacing heavy L1 computation with lighter and more cost-effective L1 verification using STARK proofs computed off-chain. This approach can be compared to a sudoku puzzle, where verifying a solution is much easier and faster than solving it from scratch.

StarkNet operates as a permissionless Layer 2 network over Ethereum and uses the most scalable and secure cryptographic proof system – STARK. It leverages the Cairo language, a Turing-complete programming language designed specifically for STARK proofs, to write its contracts.

Getting Started with the StarkNet Airdrop

In this section, we will outline the steps to participate in the StarkNet airdrop, both on Mainnet and Testnet.

Mainnet Strategy

1. Create a StarkNet wallet

Visit either Argent or Braavos to create your wallet.

2. Bridge ETH From Mainnet to StarkNet

Go to StarkGate > Connect Your Wallets > Select the amount of ETH you want to bridge.

3. Swap and Add Liquidity on Various Platforms

  • Connect your wallet and swap any tokens or add liquidity on mySwapxyz

  • Connect your wallet and swap any tokens or add liquidity on 10KSwap

  • Connect your wallet and swap any tokens or add liquidity on JediSwap

4. Deposit and Borrow Tokens:

Connect your wallet and deposit liquidity on any pool at Nostra Finance.

5. Mint, Buy, and Sell NFTs

Connect your wallet, select StarkNet mainnet, and mint, buy, or sell NFTs at MintSquare NFT.

6. Mint Domain Names on StarkNet

Connect your wallet, choose your name, and select the registration period at Starknet ID.

Testnet Strategy

1. Request Testnet Tokens

Visit StarkNet Faucet to request testnet tokens.

2. Make Swaps

Perform 10-15 swaps on testnet platforms such as StarkDefi and Fibrous.

3. Mint, Buy, and Sell NFTs on Testnet

Connect your wallet, select StarkNet testnet, and mint, buy, or sell NFTs at MintSquare NFT.

4. Claim and Customize Profiles on StarkNet Social

Connect your wallet in StarkNet Testnet, claim your profile, customize your avatar, and follow other users at StarkNet Social

Tips and Reminders

Stay active on the network and don’t feel like you have to make all your transactions in one day.

To always get airdrop updates, check out the StarkNet airdrop thread.

By following these steps, you will be well on your way to participating in the StarkNet airdrop and maximizing your crypto earnings. Additionally, our crypto portfolio tracking tool will soon allow users to track their StarkNet coins, ensuring that you can keep track of all your investments in one place.


The StarkNet airdrop presents a unique opportunity for crypto enthusiasts to expand their portfolio and potentially earn significant rewards. As the popularity of airdrop farming continues to grow, staying informed and engaged in the crypto community will prove invaluable for maximizing your earnings.

With the CoinStats crypto portfolio tracking tool‘s upcoming support for tracking StarkNet coins, you’ll have a reliable and convenient way to manage all your investments in one place. By participating in the StarkNet airdrop and leveraging our platform, you can stay ahead in the rapidly evolving world of cryptocurrencies and capitalize on exciting new opportunities as they emerge.

How to Stake MATIC [The Ultimate Guide 2023]

how to stake matic featured

Staking involves locking up your crypto assets in your personal cryptocurrency wallet for a specific period to contribute to the performance and safety of the blockchain network and earn rewards in the form of additional coins or tokens. 

One of the most popular options for staking is Polygon (MATIC), a scaling solution for the Ethereum network that has gained widespread adoption due to improving the speed and efficiency of Ethereum transactions and reducing ETH gas fees through Layer 2 sidechains. Polygon offers the Plasma Chains scaling model and the Ethereum Matic PoS Chain sidechain based on Proof-of-Stake (PoS) as a popular scaling option for various applications.

Matic is the native token for Polygon. By staking MATIC, investors can earn rewards while supporting the network’s infrastructure.

This article will explain everything you need to know about Polygon Matic staking and provide a detailed guide on where, why, and how to stake Matic tokens to earn staking rewards.

What Is Polygon Staking?

Polygon is a PoS network, enabling crypto investors to stake Polygon (MATIC) to contribute to network security and decentralization and earn an attractive yield for their staked tokens. Staking Polygon may provide you with a significant return on investment. According to Polygon, the typical APY for staking Polygon is 8%, and more than 2.39 billion MATIC tokens are currently staked in various staking providers.

When investors lock up their funds in a staking pool, they delegate their tokens to a validator to run nodes on the network. The validator stakes on your behalf and gives you your share of the rewards at the end of the staking period. Polygon relies on a set of validators, who stake their MATIC tokens as collateral to secure the network and earn rewards in exchange for their service. Polygon validators run a full node, produce new blocks, participate in consensus, verify transactions, and earn rewards for performing network operations. To become a validator on the Polygon chain, you must stake MATIC tokens with staking management contracts on the Ethereum mainnet.

A validator node receives inflation-funded block rewards and network-based transaction fees in return for good validator performance. Rewards are distributed to all stakers proportional to their stake at every checkpoint. However, slashing staked funds are placed at risk and can be penalized or slashed if a validator node commits a malicious act like double signing or validator downtime.

Token holders, called delegators, who cannot or don’t want to run a validator node, can participate indirectly by delegating their tokens to a validator. They secure the network by choosing validators and delegating their stake to validator nodes. Validators charge a fee for running a service for delegators. While delegators share rewards with their validators, they also share the risks.


Make it work for you

Benefits of Staking MATIC

Staking MATIC offers several advantages that make it an appealing choice for investors. It enables investors to earn staking rewards, which are determined by the amount of MATIC staked and the duration of the stake. These rewards are paid out in MATIC, allowing investors to accumulate more of the token over time conveniently.

Moreover, staking MATIC can potentially boost the value of your MATIC holdings. As more investors stake their MATIC tokens, the number of tokens available for trading on exchanges decreases, increasing scarcity and potentially driving up its price.

In addition to earning rewards, staking MATIC contributes to the network’s security. Staking helps decentralize the network by ensuring that validators are incentivized to act in the network’s best interests. This helps prevent malicious actors from compromising the network’s security, making it a more secure and reliable network for all users.

As of March 2023, the staking rewards on Polygon range from 5 to 10% annually, depending on the duration of the stake. These rewards are competitive compared to other staking options in the market, making staking MATIC on Polygon a compelling investment opportunity.

How to Stake MATIC on Polygon?

Staking MATIC on Polygon is a straightforward process that can be completed in simple steps. Here’s a detailed guide on how to stake MATIC on Polygon:

  1. Set up a MATIC wallet: To stake MATIC token on Polygon, you must create a wallet that suits your needs and supports the token, such as the Polygon web wallet, Metamask, MyEtherWallet, etc.
  2. Connect to a staking platform: Once you’ve set up a MATIC wallet, you must connect it to a staking platform, like Polygon’s official staking portal, Aave, Staked, etc.
  3. Select your staking options: Now, you must select a staking option, including the amount of MATIC you want to stake and the duration of your stake. Read the terms and conditions carefully before staking to consider any potential risks or fees involved.
  4. Complete the staking process: Complete the staking process by confirming the transaction in your MATIC wallet. Once the transaction is confirmed, your MATIC will be staked, and you’ll start earning staking rewards.


A minimum stake amount might be required to participate in staking on Polygon. Consider any potential risks involved, such as losing your staked tokens due to network attacks or other unforeseen events, before staking Polygon (MATIC).

Where to Stake MATIC?

Several staking platforms support staking Polygon MATIC tokens. Here are some of the most popular options:

  1. Polygon’s official staking portal: The Polygon staking portal is the most popular and widely used platform for staking MATIC on Polygon. It offers competitive staking rewards, a user-friendly interface, and excellent security features. To access the staking portal, visit Polygon and connect your MATIC wallet to get started.
  2. Aave: Aave is a popular decentralized finance (DeFi) platform that supports MATIC staking. It enables Aave users to earn interest on their staked assets and participate in other DeFi activities. To access Aave’s MATIC staking platform, visit Aave and connect your MATIC wallet.
  3. Staked: Staked is a professional staking platform where you can stake Polygon (MATIC) and other cryptocurrencies. Staked offers institutional-grade security features and competitive staking rewards, making it a popular choice among advanced investors. To access Staked’s MATIC staking platform, visit Staked and follow the instructions to connect your MATIC wallet.

Each staking platform described above offers unique features and benefits, so consider your options before selecting a platform to stake your MATIC. Consider the terms and conditions and any potential risks or transaction fees involved. By selecting a reliable and efficient platform, you can start earning passive income on your staked MATIC tokens in no time.

Risks of Staking MATIC

While staking MATIC can be a great way to earn rewards and support the network, it’s crucial to consider the potential risks and downsides. Here are some of them:

  1. Market fluctuations: As with any cryptocurrency investment, the value of your MATIC holdings can fluctuate over time. Staking MATIC doesn’t guarantee a fixed return, and your staking rewards may vary based on market conditions.
  2. Technical issues: Staking platforms often face technical issues or glitches, which can result in lost rewards or funds. Do your research and select a secure and efficient staking platform.
  3. Liquidity: When you stake MATIC, your tokens will be locked up for a period, meaning you can’t access or trade your tokens during the lockup periods. This could be a drawback if you need to sell or exchange them.

Pro Tip

Liquid staking enables you to stake funds to earn rewards while still having access to those funds.

To mitigate these risks, it’s essential to:

  • Research and choose a reputable staking platform with a security track record.
  • Diversify your investments across different cryptocurrencies and staking platforms.
  • Monitor the market conditions and adjust your staking strategy as needed.
  • Consider working with a financial advisor or cryptocurrency expert to help you make informed investment decisions.

You can minimize risks and maximize your rewards by staying informed and taking a thoughtful approach to staking MATIC.

Is Polygon (MATIC) Staking Safe?

One of the critical concerns for investors considering staking MATIC is the security of the Polygon blockchain and staking platforms. Here’s what you need to know about the security measures in place:

  1. Polygon network security: The Polygon network is built on top of the Ethereum blockchain and benefits from the same security features, such as decentralized consensus and cryptographic encryption. Additionally, Polygon uses various security measures to protect against potential threats, including regular audits and bug bounties.
  2. Staking platform security: The staking platforms used to stake Polygon (MATIC) typically implement their own security measures, such as two-factor authentication and encryption, so select a platform with a proven security track record.

While the Polygon network and staking platforms are generally considered safe, you should consider some potential risks, including:

  • Hacking attempts or security breaches on the network or staking platform.
  • Smart contract vulnerabilities or bugs.
  • Market fluctuations that could impact the value of your staked tokens.

To stay safe while staking MATIC, here are some tips to follow:

  • Select a reputable staking platform with a strong security record.
  • Use a hardware wallet or other secure storage solution to store your MATIC tokens.
  • Enable two-factor authentication and other security features on your staking account.
  • Monitor the market conditions and adjust your staking strategy as needed.
  • Consider purchasing insurance or utilizing compensation options offered by your staking platform in case of unexpected events.

You can enjoy a secure MATIC staking experience by following these guidelines and staying vigilant.


Staking has gained immense popularity among cryptocurrency investors as a means to earn passive income while supporting the networks they believe in. Among the various staking options available, Polygon’s (MATIC) staking is a particularly attractive option due to its high staking rewards, contribution to network security, and potential to increase the value of your MATIC holdings.

Staking presents lucrative opportunities, but evaluating the potential risks and downsides before investing thoroughly is essential.

We strongly urge our readers to conduct their own research and carefully weigh the risks and rewards before staking any funds on Polygon or any other network. It’s imperative to prioritize safety and security while investing in cryptocurrencies and consider the potential risks.

What Are Crypto Airdrops and How to Get Them


From Bitcoin and Ethereum to less popular altcoins, there are thousands of cryptocurrencies to date, many of which struggle to bring mass awareness to the public and encourage adoption. And that’s where crypto airdrop comes in. 

Crypto airdrops are a marketing strategy used by cryptocurrency projects to send tokens to specified wallet addresses for free or in exchange for minimal promotional work. Some of the most lucrative airdrops, such as Uniswap, dYdX, LooksRare, Optimism, etc., resulted in free money of over $10,000, while Bored Ape Yacht Club owners received a cryptocurrency airdrop worth around $100,000 for every ape NFT they owned.

Cryptocurrency airdrops come in different forms and are designed to expand adoption, generate interest, and foster a thriving crypto community. Most crypto projects airdrop free tokens to generate buzz ahead of an anticipated launch or use the crypto airdrop model to reward early users.

Key Takeaways

  • Airdrops are a marketing strategy deployed by crypto projects to increase their adoption and raise awareness. 
  • The amount of money earned through airdrops can vary from a few to thousands of dollars. 
  • Depending upon the eligibility criteria, airdrops can be of multiple types, such as bounty, standard, holder, etc. 

While they may seem lucrative and help you make additional returns on your portfolio, crypto airdrops also carry some risks.

This article will tell you everything you need to know about crypto airdrops, including the best potential airdrops for 2023, how to get crypto airdrops, and more.

Let’s get right to it!

How Do Crypto Airdrops Work?

A crypto airdrop is a marketing method that involves the distribution of free crypto tokens to a user’s wallet to promote up-and-coming crypto projects. Airdrops aim to enhance the exposure of a crypto project and make the token valuable early on to stimulate its trade. They reward early adopters, incentivize the onboarding of new users, and grow their community to raise awareness of the project and encourage the trading of a newly issued token.

Crypto token airdrops have been around since 2014 when the Auroracoin project airdropped free AUR tokens. The project aimed at making AUR Iceland’s national cryptocurrency, so the citizens of Iceland received 31.8 AUR in the form of airdropped tokens. Since then, thousands of blockchain networks and cryptocurrency projects have used the airdrop method to increase awareness and promote adoption.

Cryptocurrency projects apply various crypto airdrop models requiring users to carry out minimal tasks to receive rewards. The most common crypto airdrops give out free tokens for simply signing up with the project or posting on social media. The crypto coins are sent directly to certain wallet address owners, who might have to pay a transaction fee for claiming the airdropped coins. Depending on the blockchain network the project is built on, the fees may vary from a few to hundreds of dollars per transaction.

Information about any potential airdrop can be found across social media, the project’s website, and cryptocurrency forums. Users can also set up an airdrop alert and keep up to date with the latest airdrops.

However lucrative as airdrops might seem, you should always research the project beforehand to avoid airdrop scams. Phishing schemes can be centered on decentralized and centralized exchanges alike. For example, in 2022, scammers targeted the users of Uniswap, one of the most popular decentralized exchanges, by promising a free airdrop of 400 Uniswap tokens worth around $2,000. A few traders connected their wallets to a dodgy website and sustained huge losses. Other airdrop scams ask for investments, your private key, or additional personal information.


Never reveal your private keys to any airdrop while connecting your wallet to their website. 

What’s the Purpose of Crypto Airdrops?

A crypto project uses an airdrop as a marketing strategy to raise awareness about the project and encourage the trading and hodling of its native token. Airdrops also aim to create a vast network of users motivated to promote the project by winning community votes for exchange listings, etc.

Types of Crypto Airdrops

Some of the earliest airdrops rewarded users for simply holding bitcoin in their wallets. Bitcoin Cash (BCH) airdrop is a good example of this, where Bitcoin holders were given one BCH token per Bitcoin. But over the years, airdrops have evolved, and the most common types of airdrops are listed down below:

Standard Crypto Airdrop

A standard crypto airdrop often requires users to provide their wallet addresses and connect to the project’s website. Projects generally have a cap on how many tokens a wallet can receive.

Note that some projects may require KYC (know your customer) verification before receiving assets, requiring personal details, or even uploading proof of residence.

Bounty Airdrop

Bounty airdrops require users to complete specific tasks to increase project awareness in exchange for rewards. The tasks include signing up for the project or its newsletter, posting on social media about the project and tagging other users in the post, joining and participating in the Discord/Telegram channels, etc.

In a bounty airdrop, users receive points for completing specific tasks. The number of airdropped coins is directly proportional to the points collected by the user; the more points one has, the more tokens one can receive. Often a minimum threshold has to be reached to become eligible for a reward.

Holder Airdrops

Holder airdrop is generally held for an existing cryptocurrency project or a network. Projects use holder airdrops to distribute freshly minted native tokens to long-term holders. The airdrop occurs when a user holding specific tokens in their crypto wallet gets more tokens.

Projects often airdrop their tokens to holders of other tokens using the same blockchain network.

For example, in 2021, Gas DAO distributed tokens to individuals who had paid a certain threshold of Ethereum gas fees. 55% of Gas DAO tokens were airdropped to 634,429 eligible wallets.

Exclusive Airdrops

An exclusive airdrop is designed exclusively for specific users, often early adopters of a platform, before the project releases its native token. Exclusive airdrops reward loyal users for interacting with the platform and its protocols and aim to generate hype around a token launch. 

Some leading exchanges and aggregators have used the exclusive airdrop distribution model.

Raffle Airdrop

In a raffle airdrop, the rewards are given to wallets based on a lottery or a raffle. Some projects may require users to perform tasks to earn a raffle ticket, such as holding tokens, making social media posts, etc. Once the airdrop goes live, winners are selected randomly from raffle ticket holders.

NFT Airdrop

Non-fungible tokens ( NFTs ) are unique and non-interchangeable tokens that represent real or virtual assets on the blockchain. In an NFT (Non-Fungible Token) airdrop, projects or artists give out their newly minted NFTs for free to encourage people to generate buzz and incentivize new users.

NFT airdrops aim to increase NFT collection circulation and the number of enthusiastic followers.

Fast Fact

Most users sell their tokens almost immediately after receiving airdrops, but many airdropped tokens have increased in value to become worth hundreds of thousands of dollars later. 

How to Get Crypto Airdrops?

To get crypto airdrops, you must start a search for new airdrops on crypto price aggregators like CoinMarketCap, CoinGecko, Etherscan, Airdrop Alert, etc. 

If you’re searching for crypto airdrops on social media sites, you should only select projects with a large following and ecosystem to avoid scams.

After you select a crypto airdrop, you must follow its eligibility requirements, such as interacting with a DApp, signing up for a newsletter, posting about it on social media, etc. Holding a specific cryptocurrency or having interacted with a specific DApp in the past may automatically qualify you for an airdrop.

Once you’ve completed the required tasks, you should see the crypto airdrop in your associated crypto wallet on its official drop date. 

Tip: If a protocol announces an airdrop, it usually posts a link where you can check if your wallet address is eligible. If your address is eligible, but the airdrop keeps canceling, it could be that the airdrop congests the blockchain, and transactions cannot be processed. In that case, you need to try again later.

Best Crypto Airdrops for 2023

zkSync Airdrop

zkSync is a Layer 2 (L2) scaling solution built on the Ethereum blockchain. The project has no token yet, but it already has a large number of decentralized apps (DApps) running on its network. Users interacting with the protocol and the DApps on the network might be eligible to receive airdrops. Although there is no official announcement by the zkSync team, it’s rumored it would be one of the biggest airdrops in recent times.

Shardeum Airdrop

The Shardeum network is a smart contract platform built on the Ethereum Virtual Machine. The protocol will issue its own native SHM token and has already reserved 51 percent of its 500 million token supply for its community members. The team hinted on its FAQ page that 5% of its token supply would be allocated for airdrops. To be eligible, add Liberty to your wallet, request testnet SHM tokens, and interact with the smart contracts built on it. The team also stated that users could qualify for rewards/airdrops from DApp projects built on Shardeum in the future.

SUI Airdrop

The SUI blockchain is a Layer 1 project designed by former Meta employees.

In August 2022, Sui had a $SUI token airdrop for its Testnet Wave 1 and 2 validators when 2,000 SUI (subject to 1-year vesting) was distributed for participating in every testnet “wave.”

The $SUI token airdrop for its third testnet “wave” hasn’t been officially announced yet. However, the Sui team has stated in its blog post that they will distribute SUI tokens to early community members. The team also said that those spreading knowledge about Sui, onboarding developers, and testing and refining its applications would be part of Sui’s token allocation.

Plus, some other airdrops have a huge potential in 2023, such as Arbitrum airdrop, Zetachain, etc. As such, QUAI Network, an open-source proof-of-work blockchain network using merged mining to increase throughput and security, has a social media rewards program that will airdrop $QUAI tokens for engaging with their social media channels.

How to Receive Free Crypto Tokens Securely?

As with almost everything related to the crypto industry, airdrops are susceptible to bad actors, rug pulls, scams, etc. Hence, to earn airdrops in a secure manner, it’s important never to reveal your wallet’s private keys to anyone. Moreover, any airdrop project that asks for your private key is likely a scam designed to drain your wallet.

With so many ongoing airdrops, it’s paramount to perform due diligence and select legitimate projects before participating.


As the crypto industry has matured over the years, the number of crypto airdrops and how they’re conducted has also grown. Airdrops such as bounty, holder, exclusive, etc., are gaining popularity among users enabling them to earn free money, especially in a bear market. With Non-Fungible Tokens being the latest craze in the crypto space, NFT airdrops are surely going to be very popular.

How to Buy STEPN [The Ultimate Guide 2023]

how to buy STEPN featured

How to buy STEPN (GMT) might be at the top of your priorities given the buzz around the asset in recent days. The new project is pushing the frontiers of the application of blockchain technology with the trio of gaming, fitness, and socials.

The move-to-earn app model takes fitness apps to the next level by allowing users to tokenize physical activities and awards them with tokens and NFTs.

STEPN (GMT) is a web 3 lifestyle app that tokenizes any physical activity and allows users to earn through the simple activity of jogging, walking, and running outdoors after purchasing sneakers (NFTs) from the marketplace. The app adds a game element, as users can randomly find and drop treasure boxes during their physical activity. With a move-to-earn consensus mechanism, STEPN aims to flip the script for exercise by combining Game Fi elements and Social-Fi for a healthier lifestyle. Its goals are to inspire millions to a healthier lifestyle, connect them to Web3, and combat climate change.

1. Sign Up for a CoinStats Account

Sign up for a CoinStats account if you don’t already have one, and verify your identity. Connect your digital wallet that supports Ethereum-based tokens, such as MetaMask or MyEtherWallet, to your CoinStats account.

2. Navigate to the CoinStats Swap

Navigate to the CoinStats Swap platform. After successfully linking your wallet, choose the token to swap by providing the data in either cryptocurrencies or USD/EUR.

3. Swap STEPN (GMT)

For example, we are swapping ETH for STEPN (GMT). In the “From” field select the ETH token from your wallet, and in the “To” field, select “GMT”

Click on Advanced Options to change the slippage. When you’re finished customizing, scroll down to the bottom of your screen and tap the “Submit Swap” button.


After you submit your swap request, you’ll be prompted to confirm it. To begin the swap, follow the instructions on the screen, review the information, and click “Confirm.”

NOTE: You will be charged Network Transaction fees also known as gas fees. This refers to the charge necessary to complete a transaction on the blockchain. In essence, gas fees are paid in the network’s native currency, i.e. ETH for the Ethereum network. CoinStats charges a small swap fee in addition to the gas fees.

Once the transaction is completed, your STEPN (GMT) will be credited to your digital wallet, and you can track your STEPN holdings in your CoinStats account.

If you don’t have any crypto yet, don’t fret! You can buy any large-cap cryptocurrency on CoinStats’ buy crypto with bank card page, and swap that crypto for STEPN (GMT). 

Have STEPN or will soon?

Start managing it better

Understanding STEPN

STEPN is both a cryptocurrency and a move-to-earn app that rewards users for going outside and being active. It encourages socializing while also assisting users in living a healthy lifestyle. 

After you download the STEPN app and get an NFT sneaker from its marketplace, you get paid in crypto for the simple activity of walking, jogging, or running outdoors.

What is STEPN

The app offers a unique experience of exercising, earning and playing with its SocialFi and GameFi features, i.e., users can upgrade the attributes of their sneakers or find and drop treasure boxes randomly during their physical activity. With GameFi, STEPN aims to influence users toward a healthier lifestyle and carbon neutrality. A portion of profits will be used to buy Carbon Removal Credits to combat climate change through Nori Marketplace. While the SocialFi component aims to create a platform that connects people to the world of Web3.

STEPN has generated quite a buzz in crypto circles. The project is the first sports app built on Solana, a Proof-of-Stake (POS) blockchain that processes over 700,000 transactions per second in an energy-efficient manner.

STEPN has had an impressive track record since entering the space. The project is the first and only mobile game to win the Solana Ignition Hackathon Gaming Track in 2021. The factors that gave STEPN an edge over other sophisticated projects in the hackathon include its intuitive user interface, seamless design, built-in swap function, and the in-app marketplace.

STEPN Founders and Investors

STEPN is the brainchild of Find Satoshi Lab, an Australian financial technology studio. Jerry Huang and Yawn Rong are co-founders of the project, with Huang having 10 years of experience in mobile game development. The founders have strong backgrounds in crypto, gaming, and serial entrepreneurship.

Given the project’s potential, STEPN has attracted investments from notable angel investors in the space, including Santiago R Santos and Asia Partner of Republic Zhen Cao. It famously raised a $5 million seed round from the cohort of Sequoia Capital, Alameda Research, DeFi Alliance, Corner Ventures, and Folius Ventures, amongst others.

Binance Labs, the venture capital arm of Binance, has also invested in the project. Bill Qian, Head of Binance Labs, noted that the ‘gamification of exercise’ will bring more people into Web 3.0.

How Does STEPN Work? 

To get started, you have to download the STEPN app, sign up, create a crypto wallet, and transfer SOL to your in-app wallet. The next step is to visit the in-app marketplace to buy or rent NFT Sneakers based on the current fitness levels and start to earn tokens from the activity of walking and running. Users equipped with NFT Sneakers – walk, jog or run outdoors to earn GST, which can be used to level up and mint new Sneakers. A player can choose to lease or sell their NFT Sneakers on the in-app marketplace; users’ GST earnings are stored in the in-app wallet, which has a built-in swap function.

Tip: Consider the Sneaker’s Comfort Attribute – The higher the comfort, the more GMT earned per minute.

After purchasing your NFT Sneaker, energy will restore at a rate of 25% every 6 hours (Fixed at AEDT Time 00:00, 06:00, 12:00, 18:00). This means you can start your STEPN journey immediately after the first 25% energy restoration.

Users’ GST earnings can be spent in the game to level up or can be cashed out for real money. The gamification features are bolstered by using mystery boxes, customization of the NFT shoes, and stratification into levels.

The STEPN app offers three different game modes that allow you to have fun while earning money: Solo, Marathon, and Background Mode.

STEPN has a dual-token system: game token – Green Satoshi Tokens (GST), and its governance token – Green Metaverse Token (GMT). GMT is used for governance and staking rewards. GST serves as the general game token. Users can stake GMT to participate in the governance and decide on the distribution of staking rewards.STEPN (GMT) has soared incredibly since its market debut in March. Check the STEPN GMT current price, market cap, total supply, circulating supply, trading volume, historical statistics, etc., on CoinStats, one of the best crypto platforms around.

STEPN Game Modes

The STEPN app offers three different game modes – Solo, Marathon, and Background Mode. Solo mode allows you to earn Green Satoshi Tokens ( GST ) simply by moving. The amount you earn is based on two factors; your level of physical activity and the rarity of the NFT Sneakers you own. Different types of sneakers return GST at different rates — the higher a sneaker’s efficiency attribute, the more GST per minute the user can earn.

Marathon Mode is designed for users with higher endurance. You can register for weekly and monthly Marathon competitions in Marathon Mode, but you can only participate in one Marathon at a time.

 Background mode allows you even to earn GST while the STEPN app is turned off. All you need is one pair of Sneakers in your wallet to be eligible for this feature. The app will then pull your step count directly from your device’s Health Data.

Where Can I Buy GMT?

Some of the exchanges that list the GMT token include Gate.io, MEXC Global, Binance, and Coinbase. Some fiat-to-crypto exchanges require you to purchase Bitcoin or another major crypto with fiat currency on the exchange and convert it to GMT by selecting the appropriate trading pairs.

Follow our step-by-step guide below to purchase STEPN.

Step #1: Create an Online Account

To buy cryptocurrency, including STEPN (GMT), you first need to create an account with a cryptocurrency exchange that supports the token. A handful of exchanges support the token, but special care and attention should be given to the security and the applicable fees on the exchange. Also, consider if the cryptocurrency exchange allows buying STEPN with your preferred payment method, such as a credit or debit card, another cryptocurrency, or a bank transfer.

Some of the exchanges on the list (unlike a decentralized exchange) might require stringent KYC procedures, and you need to provide personal information like your name, contact number,  email address, home address, social security number, and a copy of your driver’s license, passport, or government-issued ID. You will need to enter the verification code sent to your email to get verified and start trading.

Step #2: Fund Your Account

The next step is to deposit funds into your account. Many exchanges will allow you to use fiat currency like USD or EUR to fund your account.

Simply choose your preferred method, such as a bank transfer, Master and Visa credit/debit cards, e-wallets, etc. The payment method you use to buy STEPN coins will be determined by the platform, location, and preferences.

Remember to check the costs associated with different deposit mechanisms because some attract higher fees than others.

Step #3: Buy GMT

After completion of the first two steps above, the next stage is to purchase your crypto. A similar pattern can be found across all exchanges in purchasing GMT. Individuals should go to the search bar to find GMT and click on “Buy GMT” or its equivalent. 

The next step is to input the amount of GMT to be purchased or the fiat amount available to be spent. Most exchanges will automatically convert the amount for investors to know how much they will spend and how much GMT will be obtained.

But before making the financial decision to buy, it is necessary to take a second look at the figures to be sure that there are no errors. Also, traders are advised to confirm that it is STEPN (GMT) that they are purchasing and not similar or lookalike tokens. 

After confirming, traders can proceed to buy their GMT Token from the exchanges straight to their wallet.

Exchanging Crypto for Fiat

You’re all set now to buy crypto. The process of purchasing GMT is similar across all exchanges. Search for GMT in the search bar and click on “Buy GMT” or its equivalent. Input the amount of GMT, purchased or the fiat amount to be spent. Most exchanges will automatically convert the amount to let you know how much you’ll spend and how much GMT will be obtained. Before making your purchase, double-check the details and confirm.

You can place many types of orders, just as in stock trading. Below are the two  most common orders: 

Market orders: A market order tells your broker that you want to purchase STEPN immediately at the current market price. Market orders don’t provide you with much control over the price you spend per coin, and you may wind up paying a rate that differs from the one displayed on the exchange. 

Limit orders: Limit orders indicate that you want to buy STEPN at or below a specific price point. Your broker will ask you the number of coins you wish to acquire and the maximum price you’re ready to pay for each once you’ve placed an order. The coins will only appear in your wallet if your broker fulfills your order at or below your requested pricing. The broker may cancel your order at the end of the day if the price increases over your limit.

If you’re planning to keep your newly purchased coins for an extended period, we highly recommend securely storing them in a hardware wallet.


Some cryptocurrency exchanges provide peer-to-peer (P2P) platforms to let users buy GMT from other users directly. Users will have to select GMT, a seller, and a payment method. After making your selections, just click the “buy” button. After confirming the transaction, the seller releases the GMT to the buyer.

How to Store GMT?

After purchasing GMT, the next challenge is securely storing your tokens in digital wallets. We distinguish between a Software Wallet (Hot Wallet) and a Hardware Wallet (Cold Wallet).

Software Wallets

If you’re looking to trade GMT regularly, software or hot wallets provided by your selected crypto exchange will suit you. Software wallets are user-friendly and free to use.  They store your keys online and are therefore less secure than hardware wallets, but their ease of use makes them ideal for newbies with a few tokens.

 Examples of software wallets include CoinStats Wallet, MetaMask, Coinbase Wallet, Trust Wallet, and Edge Wallet, amongst others.

Hardware Wallets

A hardware wallet is a device that stores the private keys you need to receive or send crypto. Hardware or cold wallets are usually considered the safest way to store your cryptocurrencies as they offer offline storage, thereby significantly reducing the risks of a hack. They are secured by a pin and will erase all information after many failed attempts, preventing physical theft. Hardware wallets also let you sign and confirm transactions on the blockchain, giving you an extra layer of protection against cyber attacks. These are more suitable for experienced users who own large amounts of tokens.

A hardware wallet is more expensive than a hot wallet, with prices ranging between  $50 – $200.

Examples of cold wallets are Trezor Model T, Ledger Nano X, CoolWallet Pro, KeepKey, Ellipal Titan, and SafePal S1, amongst others. 

Track Your STEPN (GMT)

The crypto market is volatile, and managing your portfolio could get tricky if you hold multiple assets. Utilizing a portfolio tracker will help you keep track of your DYDX tokens and all your crypto investments from one platform at all times. CoinStats offers one of the best crypto portfolio trackers in the market.

You can also monitor the profit, loss, and liquidity of DYDX across several exchanges on CoinStats.

CoinStats supports over 300 cryptocurrency exchanges and over  20,000 cryptocurrencies. It offers charting tools, analytical data, advanced search features, and up-to-date news. Here you have the opportunity to connect an unlimited number of portfolios (wallets and exchanges), including

  • Binance
  • MetaMask
  • Trust Wallet
  • Coinbase
  • Kraken
  • Kucoin
  • Bitstamp, and 500 others. 

To connect, go to the CoinStats Portfolio Tracker page and:

  • Click Add Portfolio and Connect Wallet.
  • Click the wallet you want to connect to (e.g., Ethereum Wallet).
  • Input the wallet address and press Submit.


So there you have it! Getting your hands on one of the hottest cryptocurrency tokens isn’t rocket science. Choosing a reputable exchange that supports STEPN (GMT) is key in purchasing the token. Simply select your preferred deposit method, double-check the numbers, and proceed to your purchase.

Disclaimer: All information provided in or through the CoinStats Website is for informational and educational purposes only. It does not constitute a recommendation to enter into a particular transaction or investment strategy and should not be relied upon in making an investment decision. Any investment decision made by you is entirely at your own risk. In no event shall CoinStats be liable for any incurred losses. See our Disclaimer and Editorial Guidelines to learn more.

What Is a Public Key and How Does It Work

What Is a Public Key

Public-key cryptography (PKC) is an asymmetric encryption technique that relies on a pair of keys to secure data communication. The public key is the encryption key shared with everyone to receive transactions, and the private key is the decryption key that must be kept secret.

This technique is at the heart of cryptocurrencies and ensures the integrity and authenticity of crypto transactions.

Key Takeaways

  • Public-key cryptography (PKC) is an asymmetric encryption technique that relies on public/private key encryption to secure data communication.
  • The public key is the encryption key shared with everyone to receive transactions, and the private key is the decryption key that must be kept secret.
  • The recipient’s public key is used to encrypt the data; the recipient’s private key is used to decrypt the data.
  • This technique is at the heart of cryptocurrencies and ensures the integrity and authenticity of crypto transactions.
  • Remember to keep your private keys private and secure at all times.

What Is Cryptographic Key Encryption?

The encryption algorithm used in blockchains is the cryptographic key encryption method for encrypting and decrypting data. A cryptographic key is a random string of data, such as numbers and letters, generated to encrypt data and decrypt the encrypted data.

Cryptographic encryption can be symmetric key cryptography or asymmetric. In symmetric encryption, only a single key is used to encrypt and decrypt data. While in asymmetric encryption, two keys are required to encrypt and decrypt encrypted messages in a complex mathematical algorithm. The key pairs used in asymmetric cryptography are known as public and private keys. A public key is used to encrypt messages and is widely shared and publicly displayed, similar to your email address or bank account, to receive cryptocurrency. Instead, a private key is the decryption key used to decrypt messages and must be kept in secret, similar to your password, to safeguard your cryptocurrencies.

Public-key cryptography is used in cryptocurrency transactions to ensure that only the intended recipient can access the message. Integrity is ensured through asymmetric encryption because only a private key can decrypt the information encrypted with a public key. The decryption process requires checking that the received message matches the sent message, thereby authenticating that the data is untampered and unaltered.

History and Common Methods

In the early days of cryptography, distributing key pairs between two parties was quite challenging. The parties had first to exchange a key that had to be kept in absolute secrecy using a face-to-face meeting or a trusted courier and then use the key for sharing encrypted messages.

In our days, the Diffie–Hellman key exchange method allows two parties with no prior knowledge of each other to establish a shared secret key together over an insecure channel.  

Some of the most commonly used algorithms for generating public keys are Rivest-Shamir-Adleman (RSA), Elliptic curve cryptography (ECC), and Digital Signature Standard (DSS).

The ECC algorithm uses elliptic curves to generate keys and is used for digital signatures and key agreement. The RSA algorithm is the oldest cryptography system used in transmitting shared keys for symmetric key cryptography. DSS is a Federal Information Processing Standard specifying the algorithms that can be used to generate digital signatures used by NIST.

How Does Public Key Cryptography Work?

In public key cryptography, known as asymmetric encryption, anyone can encrypt messages using a public key, but you need a matching private key to decrypt the message. First, the unencrypted data, or plaintext, is put into a cryptographic algorithm using the public key. Then the plaintext comes out as random-looking data. And finally, anyone with the corresponding private key can decrypt the data and translate it back into plaintext.

For example, Jane (sender) wants to send 1 BTC to Alice (recipient). Jane knows Alice’s public key and uses it to encrypt the transaction. After receiving it, the transaction is decrypted using Alice’s private key. Alice should be the only person who can authorize the transaction, as nobody else knows her private key. 

Public key encryption can also be used to create digital signatures. Here are the steps for generating a digital signature:

  1. The sender selects the file to be digitally signed.
  2. The sender’s computer calculates the unique hash value for the file content.
  3. The hash value is encrypted with the sender’s private key, creating the digital signature.
  4. The original file and the digital signature are sent to the recipient.
  5. The recipient uses the associated document application, which identifies that the file has been digitally signed.
  6. The receiver’s computer decrypts the digital signature using the sender’s public key and verifies that the decrypted hash value matches the hash of the original file.

Fast Fact

Private key encryption is performed using the recipient’s public and private keys. A public key is used to encrypt messages and is widely shared and publicly displayed. Instead, a private key is the decryption key used to decrypt messages and must be kept secret.

Differences Between Public and Private Keys

Public Key

The public key is the user’s public address on the blockchain used to receive cryptocurrencies. Anyone can use it to send digital currencies to you; however, only you can spend them using your private key. The public key is used to encrypt messages before sending.

Private Key

A private key is similar to your house’s front door. The public knows its location because the address (public key) can be easily found, but only you with a key to the house’s front door (private key) can enter it. Private keys are used to decrypt messages created with the corresponding public key. The private key is kept secret; if lost, restoring or accessing your funds is impossible.

Risks Associated With Public Key Encryption

While public key cryptography’s indisputable advantage is robust data security, there are still some risks associated with it, such as:

Low-Quality Key

A poorly crafted asymmetric key algorithm, i.e., too short, is a security risk. So, the encryption key issuance, renewal, and revocation should be managed with great care.

Loss of Private Key

As mentioned earlier, private keys can’t be shared publicly and should be kept private and secure. This is because once the private key is lost, there is no way to access data or funds stored in a crypto wallet.

Man-in-the-Middle Attacks

Public Key Encryption is also vulnerable to a Man-in-the-Middle (MitM) Attack in which the communication of public keys is intercepted by a third party (the “man in the middle”) and then modified to provide different public keys instead.

The primary way to establish a secure connection with servers, you must first check their digital certificates.

Secure Socket Layer and Transport Layer Security connections SSL / TLS uses public key encryption to enable the use of Hypertext Transfer Protocol Secure to create a secure connection between the server and client. The communication session is first established using asymmetric encryption to verify the identities of both parties and exchange a shared session key that enables a symmetric cipher.


Cryptography is essential for securing cryptocurrency transactions and ensuring your data hasn’t been tampered with. That’s why private, and public keys are critical in authorizing these transactions.

Remember to keep your private keys private and secure at all times. Write down your phrase on paper and store it in a fireproof safe. Also, go the extra mile by having your private keys engraved on a metal plate to protect them from high temperatures, moisture, and aggressive chemicals!